UNISAME urges government to announce regulations for foreign investors in retail sector

Karachi: The Union of Small and Medium Enterprises (UNISAME) urged the government to announce that the retail sector foreign investors who have entered Pakistani markets and who want to set up operations in Pakistan would have to source at least 50 percent of their requirements exclusively from Pakistani SMEs.

President UNISAME Zulfikar Thaver said allowing foreign investors in the retail sector is welcome but needs to be well regulated as the Pakistani industry will benefit only when these foreign investors source their requirements from local manufacturers, particularly from sectors like handicrafts, textiles, and food processing.

He said the global players definitely play a healthy role in giving worth and value to farm produce, innovation, organized chains and will create employment nevertheless they have access to global markets for their procurements and are liable to increase imports of the country. It is therefore important that the government imposes mandatory procurement from local sources to an extent that the SMEs are included in the supply chain.

He said the SMEs will be motivated to upgrade their products, achieve higher bench marks, improve their packing and develop systems as the foreign buyers will procure their goods only from selected SMEs who meet their standards.

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